Installed Building Products Inc Stock Forecast
Installed Building Products Inc stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
The Installed Building Products Inc stock price gained 1.31% on the last trading day (Thursday, 28th Mar 2024), rising from $255.38 to $258.73. During the last trading day the stock fluctuated 2.01% from a day low at $256.32 to a day high of $261.47. The price has risen in 7 of the last 10 days and is up by 7.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 82 thousand more shares were traded than the day before. In total, 255 thousand shares were bought and sold for approximately $65.92 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 49.08% during the next 3 months and, with a 90% probability hold a price between $368.86 and $396.04 at the end of this 3-month period.
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IBP Signals & Forecast
The Installed Building Products Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $255.35 and $233.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 24, 2024, and so far it has risen 41.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Installed Building Products Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $235.05 and $234.30. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Installed Building Products Inc finds support just below today's level at $235.05. If this is broken, then the next support from accumulated volume will be at $234.30 and $223.05.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.15 between high and low, or 2.01%. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: $249.93 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (IBP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Installed Building Products Inc to open at $258.84, and during the day (based on 14 day Average True Range), to move between $251.82 and $265.64, which gives a possible trading interval of +/-$6.91 (+/-2.67%) up or down from last closing price. If Installed Building Products Inc takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $235.05, some $23.68 (9.15%) from the current price of $258.73, our system finds the risk reward attractive.
Is Installed Building Products Inc stock A Buy?
Installed Building Products Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.022 Strong Buy Candidate Upgraded
Predicted Opening Price for Installed Building Products Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$258.84 ( 0.0425%) | $258.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 263.99 | 2.03 % | |
R2 | 262.02 | 1.27 % | ||
R1 | 260.81 | 0.80 % | ||
Current price: | 258.73 | |||
Support | S1 | 256.87 | -0.718 % | |
S2 | 255.66 | -1.19 % | ||
S3 | 253.69 | -1.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 258.73 | |||
Support | S1 | 235.05 | -9.15% | |
S2 | 234.30 | -9.44% | ||
S3 | 223.05 | -13.79% |
IBP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | Mar 14, 2024 | Mar 31, 2024 | $1.95 | 0.754% |
2 | Nov 08, 2023 | Dec 14, 2023 | Dec 31, 2023 | $0.330 | 0.181% |
3 | Aug 02, 2023 | Sep 14, 2023 | Sep 30, 2023 | $0.330 | 0.264% |
4 | May 04, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.330 | 0.235% |
5 | Feb 22, 2023 | Mar 14, 2023 | Mar 31, 2023 | $1.23 | 1.08% |
FAQ
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